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RENTAL 1

Colonial Court 2155 Grant Avenue

Improvements

Number of Units: 221

Type of Construction: Good quality stone & stucco, elevator

Age/Condition: 13 years, good

Heating: Gas forced air

Cooling: Central AC

Unit Amenities: Dishwashers, washer/dryer included (except in studios), microwave, 9-foot ceilings, walk-in closets. Soaking tub in 2-bedroom units.

Project Amenities: Clubhouse, fitness center, extra storage, gated entry, computer resource center, underground parking.

Parking: Garage and/or covered parking

Parking Charges: $15 for covered. $30 for underground garage.

Tenant Utilities: Gas and electricity

Landlord Utilities: Water, sewer and trash

Confirmation: Mari, manager

RENTAL RATES

Bedrooms Baths Unit Size Rental Rates

Low High Rent Per Square Foot

Low High

0 1 405 $627 $715 $1.55 $1.77

0 1 430 $637 $692 $1.48 $1.61

1 1 675 $829 $919 $1.23 $1.36

1 1 695 $829 $920 $1.19 $1.32

1 1 720 $865 $931 $1.20 $1.29

1 1 754 $883 $950 $1.17 $1.26

2 2 1,059 $1,099 $1,154 $1.04 $1.09

2 2 1,091 $1,104 $1,159 $1.01 $1.06

2 2 1,139 $1,124 $1,179 $0.99 $1.04

Concessions

None.

Rent Premiums

LRO Program, YieldStar

Occupancy

92% (16 Vacant)

Remarks

This is a modern project located immediately west of the LDS Temple in Ogden. These units do not have balconies or patios. There is no swimming pool.

Colonial Court Floor Plans

RENTAL 2

Colonial Court II 340 21st Street

Improvements

Number of Units: 73

Type of Construction: Good quality stone & stucco, elevator


Heating: Gas forced air

Cooling: Central AC

Unit Amenities: Dishwashers, washer/dryer included, walk-in closets, 9-foot ceilings, microwave

Project Amenities: Elevator, wireless internet, social room, fitness center, secured entry

Parking: Underground garage parking Parking Charges: $30 per month for underground parking. No charge

for uncovered parking.

Tenant Utilities: Gas and electricity

Landlord Utilities: Water, sewer & trash

Confirmation: Mary, leasing agent

RENTAL RATES



Low High

1 1 689 $893 $961 $1.30 $1.39

1 1 754 $883 $950 $1.17 $1.26

1 1 770 $884 $953 $1.15 $1.24

1 + Den 1 910 $889 $939 $0.98 $1.03

2 1 846 $1,122 $1,149 $1.33 $1.36

2 2 1,035 $1,142 $1,221 $1.10 $1.18

2 2 1073 $1,206 $1,264 $1.12 $1.18

2+ 2 1,270 $1,456 $1,464 $1.15 $1.15

Concessions

None.

Rent Premiums

YieldStar. Rents vary based on location, length of lease, etc.

Occupancy

92% (6 vacant)

Remarks

This is a modern project located immediately west of the LDS Temple in Ogden. These units do not have balconies or patios. There is no swimming pool.

Colonial Court II Floor Plans

RENTAL 3

Kays Crossing 60 South Main Street, Layton

Improvements


Type of Construction: Good quality 5-story stucco, elevator-serviced


Heating: Gas-forced air

Cooling: Central A.C.

Unit Amenities: Dishwasher, microwave, granite countertops, 9-foot ceilings, washer/dryers, balcony

Project Amenities: Clubhouse, media room, basketball, volleyball, fitness center, outdoor pool, spa, rooftop deck, dog park, trash valet service, bike storage

Parking: One garage stall per unit.

Parking Charge: None

Furnished: No

Tenant Utilities: All

Landlord Utilities: None

Confirmation: Tonya, assistant manager (801) 441-3060

RENTAL RATES



Low High

1 1 705 $1,030 $1185 $1.46 $1.68

1 1 755 $1,030 $1.36 $0.00

1 + Den 1 855 $1,175 $1,325 $1.37 $1.55

2 1 855 $1,175 $1,325 $1.37 $1.55

2 2 905 $1,300 - $1.44 -

2 2 1,005 $1,425 - $1.42 -

2 2 1,185 $1,395 $1,695 $1.18

Concessions

None

Rent Premiums

Rents generally increase $25 per floor. However, rents increase $50 for top floor units.

Occupancy

98% (3 vacant)

Remarks

It is about 14 miles south of the subject. However, it is located adjacent to a commuter rail station.

This project stabilized in October 2014.

Storage closets rent for $40.

Tenants are charged a $100 media fee (cable and Fiber optic internet through NetPro) and $55 for water, sewer and valet trash.

Management quotes tenants rental rates that include water, sewer, trash and telecommunications. The rental rates above do not include these charges.

Kays Crossing Floor Plans

RENTAL 4

Junction View (aka View at the Junction)

339 East 2250 South, Ogden

Improvements

Number of Units: 40

Type of Construction: Good quality 6-story brick & stucco elevator-serviced

Age/Condition: 2 years (effective), good



Unit Amenities: Dishwasher, microwave, granite countertops, 9-foot ceilings, washer/dryers, balcony

Project Amenities: Fitness center.

Parking: One secured garage stall per unit.

Parking Charge: $50 for cars, $30 for motorcycles (29 spots)

Furnished: No



Confirmation: Kammie, onsite manager (801) 436-7413

RENTAL RATES



Low High

1 1 748 $945 - $1.26 -

1 1 820 $945 - $1.15 -

2 2 1,250 $1,145 - $0.92 -

2 2 1,700 $1,345 - $0.79 -

Concessions

None.

Rent Premiums

None.

Occupancy

100%

Remarks

This was a condominium project that is now being rented as apartments. The units are large and have good quality interior finishes.

Units vary widely in size. The units listed above are typical.

Tenants are billed $65 for water, sewer, and trash collection.

RENTAL 5

Liberty Junction 2353 Junction Way, Ogden

Improvements

Number of Units: 93

Type of Construction: Good quality stone & stucco, some elevator

Age/Condition: 8 years good



Unit Amenities: Dishwasher, microwave oven, washer/dryers, patios or balconies, 9-foot ceilings

Project Amenities: Clubhouse, fitness center, business center,

Parking: See remarks

Furnished: No


Confirmation: Annette, leasing agent

RENTAL RATES



Low High 1 1 517 $750 - $1.45 -

1 1 574 $750 - $1.31 -

1 1 595 $750 - $1.26 -

1 1 625 $750 - $1.20 -

2 2 892-993 $950 - $1.07 -

2 2 1,033 $950 - $0.92 -

2 2.5 1,119 $980 - $0.88 -

2 2.5 1,155 $980 - $0.85 -

2 2.5 1,267 $980 - $0.77 -


(LIHTC) Rent Per Square Foot

(LIHTC) 0 1 456 $530 $1.16

0 1 456 $581 $1.27

1 1 517 $555-$610 $1.01-$1.17

1 1 574 $560 $0.96

1 1 584 $555 $0.95

1 1 595 $560 $0.94

1 1 625 $610-$615 $0.96-$0.98

1 1 641 $555 $0.87

2 2 892 $691 - $733 $0.77 - $0.82

2 2 906 $691 $0.76

2 2 993 $691 $0.70

2 2 1,033 $691-$724 $0.67-$0.70

2 2 1,054 $724 $0.67

2 2.5 1,155 $724 $0.63

2 2.5 1,119 $724 $0.65

Concessions

None

Occupancy

99% (1 vacant)

Rent Premiums

No floor or view premiums.

Remarks This is a mixed-income project that is located near the Ogden Temple and new development. 67 of the 93 units are rent-restricted under the LIHTC program. The other 26 units are market rental rates. (rental rates above).

Some units reserved covered parking and rent for a premium. Remaining units have reserved uncovered parking, but have access to the parking garage. According to the manager, there is adequate covered parking for tenants that do not have a reserved covered stall.

The building is contracted with Fastel/Direct TV to provide internet and cable. The internet costs between $35 to $65 depending upon speed and data plan. It is $59 for Dish Network. This is not a mandatory service.

Liberty Junction Floor Plans

RENTAL 6

Portland 550 East 25th Street, Ogden

Improvements

Number of Units: 59 Type of Construction: Mostly urban mid-rise elevator-serviced.


Heating: Gas forced-air

Cooling: Central AC

Unit Amenities: Secured buildings, dishwasher, microwave oven, granite countertops, some balconies, washer/dryer hookups, 9-foot ceilings

Project Amenities: Common terraces, use of fitness and other clubhouse facilities

Parking: Garage and uncovered parking

Parking Charge: No

Furnished: No

Tenant Utilities: Gas, electricity

Landlord Utilities: Water, sewer, trash

Confirmation: Nicki, leasing agent

RENTAL RATES



Low High

1 1 630 $543 - $0.86 -

1 1 750 $725 - $0.97 -

1 1 825 $750 - $0.91 -

2 1 825 $858 - $1.04 -

2 2 1,050 $979 - $0.93 -

2 2 1,110 LIHTC - LIHTC -



2 2 1,526 $1,050 - $0.69 -

2 2 1,560 $1,050 - $0.67 -

2 2 1,600 $1,180 - $0.74 -

2 2 1,700 $1,180 - $0.69 -

3 2 1,305 $1,340 - $1.03 -

Concessions

None

Occupancy 98% (1 vacant)

Rent Premiums None

Remarks This project is a collection of buildings located at 550 East 25th Street, 2632 Jefferson Avenue & 653 / 661 27th Street, in Ogden. The project is operated under the Low-Income Housing Tax Credit Program. Under that program, 50 units are rent-restricted. Rental rates above are for market-rent units. The project was completed in early 2013 and was stabilized by March 1, 2013. This project currently has a wait list.

Portland Floor Plans

RENTAL 7

View on 20th 287 Park Boulevard, Ogden

Improvements


Type of Construction: Good quality 4-story urban mid-rise

Age/Condition: 1 year, good



Unit Amenities: Dishwasher, microwave oven, washer/dryer hookups, patios or balconies, 9-foot ceilings, solid surface countertops

Project Amenities: 1 gig internet service, bike wash station, fire pits & barbecue areas, climbing gym membership, clubhouse with billiards table.

Parking: One uncovered stall per unit.

Furnished: No



Confirmation: Cassie, leasing agent

RENTAL RATES



Low High

1 1 785 $850 $950 $1.08 $1.21

2 1 1,015 $950 $1,050 $0.94 $1.03

2 2 1,079 $985 $1,099 $0.91 $1.02

2 2 1,449 $1,300 $1,450 $0.90 $1.00

Concessions

None

Occupancy

97% (4 Vacant)

Rent Premiums

Rent vary by floor and location.

Remarks

This is a new project located north of the CBD of Ogden. Initial lease-up started November 2015. On June 6, 2016 the project was leased at 90%. As of October 12, 2015 the project was stabilized.

There is a mandatory $99 media package.

Tenants are billed $35 for water, sewer and trash.

View on 20th Floor Plans

RENTAL 8

Imagine Jefferson, Phase 2 2444 Adams Avenue, Ogden

Improvements

Number of Units: 113 Type of Construction: 5-story urban mid-rise elevator-serviced.

Age/Condition: Under construction, good


Cooling: Central AC

Unit Amenities: Microwave, dishwasher, washer/dryer hookups, balcony or patio, granite counter tops, 9-foot ceiling height

Project Amenities: Secured entry, club room, rental office, playground, fitness center, bike rack

Parking: Adequate uncovered.

Parking Charge: None

Furnished: No

Tenant Utilities: Electricity, gas

Landlord Utilities: Water, sewer and trash collection

Confirmation: EMG – Anika

RENTAL RATES

Bedrooms Baths Limit Unit Size Rental Rates

Low High

Rent Per Square Foot

Low High

0 1 25% AMI 527 – 642 $279 - $0.43 $0.53

1 1 39% AMI 664 – 928 $482 - $0.52 $0.73

1 1 45% AMI 664 – 928 $565 - $0.61 $0.85

1 1 50% AMI 664 – 928 $634 - $0.68 $0.96

1 1 Market 664 – 928 $750 - $0.81 $1.13

2 2 50% AMI 1,112 – 1,228 $755 - $0.61 $0.68

Rent Premiums

None.

Concessions

None.

Occupancy

100%

Remarks

83 of the 113 units will be rent-restricted under the LIHTC program at between 25% and 50% of AMI. The remaining 30 units will rented at market rental rates. All market units are one bedroom units

Imagine Jefferson, Phase 2 Floorplans

RENTAL 9

Tower View 2276 Washington Boulevard

Improvements


Type of Construction: Four-stories over two levels of parking

Age/Condition: Under construction

Heating: Gas forced-air furnaces

Cooling: Central AC

Unit Amenities: Granite countertops, microwave, dishwasher, washer/dryer, patio or balcony, 9-foot ceilings (10-foot on upper floors)

Project Amenities: Hot tub, fitness center, clubroom with TV, and rental office, barbecue area, fire pit, internet café, pet washing station.

Parking: One garage stall per unit. Limited uncovered.

Parking Charges: None



Confirmation: Developer

RENTAL RATES



Low High

0 1 456 $600 $699 $1.32 $1.53

1 1 690 $755 $950 $1.09 $1.38

1 1 730 $755 $950 $1.03 $1.26

1 1 785 $755 $950 $0.96 $1.21

2 1 855 $1,015 $1,240 $1.19 $1.45

2 2 975 $1,015 $1,240 $1.04 $1.27

2 2 1,020 $1,015 $1,240 $1.00 $1.22

2 2 1,100 $1,015 $1,240 $0.92 $1.13

Concessions

One month free

Rent Premiums

Rents vary by floor level, view, etc.

Occupancy

37 units have been pre-leased.

Remarks

This project is currently under construction and is expected to be completed by June 30, 2017. First occupancy is expected in the first two weeks of June.

Tower View Floor Plans

RENTAL 10

City Garden 357 27th Street

Improvements

Number of Units: 61

Type of Construction: Four-story elevator, brick veneer, stucco, metal siding and split –face concrete block

Age/Condition: Under construction


Cooling: Central AC

Unit Amenities: Granite countertops, microwave, dishwasher, washer/dryer included, balcony, 9-foot ceilings

Project Amenities: Rental office, clubroom with kitchen, fitness center, dog run, storage closets.

Parking: One carport per unit. Additional uncovered parking.

Parking Charges: None



Confirmation: Chad Salmon, owner.

RENTAL RATES



Low High

0 1 557 $609 - $1.09 -

0 1 632 $609 - $0.96 -

1 1 691 $699 - $1.01 -

1 1 692 $699 - $1.01 -

1 1 696 $699 - $1.00 -

1 1 782 $699 - $0.89 -

1 1 785 $699 - $0.89 -

2 2 958 $935 - $0.98 -

2 2 1,000 $935 - $0.94 -

2 2 1,013 $935 - $0.92 -

2 2 1,035 $935 - $0.90 -

2 2 1,086 $935 - $0.86 -

Concessions

Not available

Rent Premiums

Not available

Occupancy

Under construction. Final certificate of occupancy expected June 15, 2017.

About 31 units have been reserved.

Remarks

This project is currently under construction. Rental rates listed above were taken from Rentler.com, as there is no rental management currently in place.

City Garden Floor Plans

SUMMARY OF COMPARABLE STUDIO RENTALS (BASE RENTAL RATES)

No Name Units BR BA Unit Size

Rent/ Month

Rent/ Sq.Ft. Occup-

ancy

1 Colonial Court 221 0 0

1 1

405 430

$627 $637

$1.55 $1.48

92%

9 Tower View 144 0 1 456 $600 $1.32 Lease-

up

10 City Garden 61 0 0

1 1

557 632

$609 $609

$1.09 $0.96

Lease-up

SUMMARY OF COMPARABLE 1-BEDROOM RENTALS (BASE RENTAL RATES)


Rent/ Month Rent/ Sq.Ft. Occup-

ancy

1 Colonial Court 221

1 1 1 1

1 1 1 1

675 695 720 754

$829 $829 $865 $883

$1.23 $1.19 $1.20 $1.17

92%

2 Colonial Court II 73

1 1 1

1+

1 1 1 1

689 754 770 910

$893 $883 $884 $889

$1.30 $1.17 $1.15 $0.98

92%

3 Kays Crossing 156 1 1

1+

1 1 1

705 755 855

$1,030 $1,030 $1,175

$1.46 $1.36 $1.37

98%

4 Junction View 40 1 1

1 1

748 820

$945 $945

$1.26 $1.15

100%

5 Liberty Junction

93

1 1 1 1

1 1 1 1

517 574 595 625

$750 $750 $750 $750

$1.45 $1.31 $1.26 $1.20

99%

6 Portland 59 1 1 1

1 1 1

630 750 825

$543 $725 $750

$0.86 $0.97 $0.91

98%

7 View on 20th 148 1 1 785 $850 $1.08 97%

8 Imagine Jefferson, II

113 1 1 664 928

$750 $0.81 100%

9 Tower View 144 1 1 1

1 1 1

690 730 785

$755 $755 $755

$1.09 $1.03 $0.96

Lease-up

10 City Garden 61

1 1 1 1 1

1 1 1 1 1

691 692 696 782 785

$699 $699 $699 $699 $699

$1.01 $1.01 $1.00 $0.89 $0.89

Lease-up

SUMMARY OF COMPARABLE 2-BEDROOM RENTALS (BASE RENTAL RATES)


Rent/ Month Rent/ Sq.Ft. Occup-

ancy

1 Colonial Court 221 2 2 2

2 2 2

1,059 1,091 1,139

$1,099 $1,104 $1,124

$1.04 $1.01 $0.99

92%

2 Colonial Court II 73

2 2 2

2+

1 2 2 2

846 1,035 1,073 1,270

$1,122 $1,142 $1,206 $1,456

$1.33 $1.10 $1.12 $.15

92%

3 Kays Crossing 156

2 2 2 2

1 2 2 2

855 960

1,005 1,185

$1,175 $1,300 $1,425 $1,395

$1.37 $1.44 $1.42 $1.18

98%

4 Junction View 40 2 2 1,250 $1,145 $1,345

$0.92 $0.79

100%

5 Liberty Junction

93 2 2

2 2

892 1,033

$950 $950

$1.07 $0.92

99%

6 Portland 59

2 2 2 2 2 2

1 2 2 2 2 2

825 1,050 1,526 1,560 1,600 1,700

$858 $979

$1,050 $1,050 $1,180 $1,180

$1.04 $0.93 $0.69 $0.67 $0.74 $0.69

98%

7 View on 20th 148 2 2 2

1 2 2

1,015 1,079 1,449

$950 $985

$1,300

$0.94 $0.91 $0.90

97%

9 Tower View 144

2 2 2 2

1 2 2 2

855 975

1,020 1,100

$1,015 $1,015 $1,015 $1,015

$1.19 $1.04 $1.00 $0.92

Lease-up

10 City Garden 61

2 2 2 2 2

2 2 2 2 2

958 1,000 1,013 1,035 1,086

$935 $935 $935 $935 $935

$0.98 $0.94 $0.92 $0.90 $0.86

Lease-up

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